What means Management and retention agreements?

With investment institutions, investors usually opt for a passive role and therefore do not want to make an active contribution to asset management and financial development of the assets. In addition, the institution lacks the expertise and management experience needed to manage the project. A manager and custodian are appointed to meet the requirements set in the Investment Institutions Supervision Act. Responsibilities and duties of the manager and custodian are laid down in the management and custody agreements, which form part of the prospectus.